Osborne calls for emergency budget
UK Chancellor George Osborne has said that he will deliver a new budget aimed at working people and entrench stability and security on July 8.
Writing in the Sun, he admitted it was "unusual" to have two budgets in the same year, but said he wanted to turn "promises made in the election into a reality".
The last budget was held on 18 March and included tax cuts for first-time house buyers.
Although his article does not specifically outline how the Conservatives plan to fulfill a pledge to cut £12bn in welfare spending, Osborne says he wants to make the welfare system "fair for the people who pay for it".
After the budget in March independent forecaster the Institute for Fiscal Studies (IFS) said that Mr Osborne needed to spell out exactly how he plans to cut £12bn from welfare spending.
Of those £12bn planned cuts, £2bn were outlined ahead of the general election - all the cuts are supposed to be in place by 2017-18.
Labour's shadow energy and climate change secretary, Caroline Flint, accused the Tories of making "a number of uncosted promises" during the election campaign.
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